Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Independence Realty Trust, Inc. (NYSE:IRT – Get Rating) by 97.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,405 shares of the real estate investment trust’s stock after selling 193,162 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Independence Realty Trust were worth $91,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new position in Independence Realty Trust during the fourth quarter valued at $195,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Independence Realty Trust by 2.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,822 shares of the real estate investment trust’s stock worth $1,986,000 after buying an additional 2,368 shares during the last quarter. Jennison Associates LLC increased its stake in Independence Realty Trust by 1.2% during the 4th quarter. Jennison Associates LLC now owns 3,485,887 shares of the real estate investment trust’s stock worth $58,772,000 after buying an additional 39,912 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Independence Realty Trust by 47.6% during the fourth quarter. Victory Capital Management Inc. now owns 120,443 shares of the real estate investment trust’s stock valued at $2,268,000 after acquiring an additional 38,865 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Independence Realty Trust by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,837,605 shares of the real estate investment trust’s stock valued at $47,842,000 after acquiring an additional 296,260 shares in the last quarter. 81.01% of the stock is owned by institutional investors and hedge funds.
Independence Realty Trust Stock Performance
Independence Realty Trust stock opened at $17.29 on Thursday. The company’s 50 day simple moving average is $16.38 and its 200-day simple moving average is $17.22. Independence Realty Trust, Inc. has a 1 year low of $14.55 and a 1 year high of $24.14. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 75.18, a price-to-earnings-growth ratio of 7.36 and a beta of 1.00.
Independence Realty Trust Increases Dividend
Analyst Ratings Changes
Several research firms recently commented on IRT. Citigroup increased their price objective on Independence Realty Trust from $18.50 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. StockNews.com began coverage on shares of Independence Realty Trust in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. JMP Securities raised shares of Independence Realty Trust from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Monday, May 8th. Barclays decreased their target price on shares of Independence Realty Trust from $24.00 to $22.00 in a research note on Wednesday. Finally, TheStreet lowered Independence Realty Trust from a “b-” rating to a “c” rating in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.50.
Independence Realty Trust Profile
Independence Realty Trust, Inc is a real estate investment trust, which acquires, owns, operates, improves and manages multifamily apartment communities across non-gateway U.S. markets. It aims to provide stockholders risk-adjusted returns through diligent portfolio management, operational performance and consistent return of capital through distributions and capital appreciation.
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